The Chinese biofertilizer market was projected to grow at a CAGR of 3.5% during the forecast period (2020-2025). The growing importance of organic farming and favorable government policies supporting sustainable agriculture are some of the factors driving the market growth for biofertilizers.
- The common biofertilizers used in China include bacterial fertilizer, organic bio-fertilizer, and compound bio-fertilizer. There are over 950 bio-fertilizer producing enterprises in the country with over 2000 registered products which are primarily used in cash crops such as vegetables, fruits, Chinese medicine herbs, and sugarcane crops.
Key Market Trends
Rise in Trend For Organic Farming
The increasing impetus provided by the demand for safe and healthy food and the increasing realization of adverse effects of usage of excess chemical fertilizers to human health and environment has provided the required fillip to the nascent biofertilizers market in the region. In China, the Ministry of Agriculture introduced the “Zero Growth Policy of Pesticides and Fertilizers by 2020” in 2015, in order to phase out the use of synthetic fertilizers and promotes the use of bio-based and organic fertilizers. Further he exponential growth in the area under organic cultivation has resulted in greater demand for biological agro-inputs in China. With government policies supporting the growth of biofertilizers in the country, the demand for biofertilizers is expected to grow during the forecast period.
Increase in Research & Development Activities is Supporting the Market Growth
China's biofertilizer market has undergone tremendous changes and showed promising opportunities and rapid development over the last few years. The development of biotechnology and its application in agricultural production has become paramount for the Chinese Ministry of Agriculture to develop green agriculture and establish a green food safety system in the region. Research funds have been allocated to the National Microbial Fertilizer Technology Research and Promotion Center for the development of ecological agriculture in China. The research and promotion of biological fertilizers can help to reduce the usage of chemical fertilizers and promote green cultivation. To support the regional development of Biofertilizers, many Chinese companies across the country have come to a common platform such as China Biofertilizer Industry Development Forum organized by National Microbial Fertilizer Technology Research and Promotion Center to share and introduced the latest research results.
China Biofertilizer market is fragmented with many regional fertilizer manufacturing companies having their presence in the market. Kiwa Bio-Tech Products Group Corporation, Bodisen Biotech, Inc, Shanxi Haozhida Biotechnology Co., Ltd and Genlido Biotechnology Co., Ltd are some of the prominent players who are operating in the market. These players are investing in Research & Development activities and are coming with new microbial fertilizers to improve soil quality, increase crop yield, and ensure crop quality.
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